Tuesday, January 21, 2014

WSJ: Hottest Job, Compliance Officer

While some sectors of the US economy struggle to create jobs one category is booming: compliance, according the the Wall Street Journal (WSJ).

Fines and penalties and a generally heightened regulatory environment are driving organizations in every industry to augment their compliance departments. The Bureau of Labor and Statistics reports the U.S. unemployment rate for compliance professionals was 5.7% in last year's third quarter, compared with the overall jobless rate of 7.2% in the same period.

"The regulatory environment in the U.S. is driving the hiring. The outlook is very bright for anyone entering into compliance as a career."."
- Paul McDonald, Robert Half International Inc.
Salaries are increasing for the compliance field, growing an average of 3.5% annually since 2011. At a large company, a chief compliance officer can expect to earn from about $162,000 to $232,000 this year, according to Robert Half International.

Experienced compliance professional are in short supply says Cory Gunderson, head of risk and compliance practice at Protiviti, "We're in a battle royal for talent in the compliance space, across the board." To alleviate shortages, and free in-house compliance staff, companies are utilizing low-cost on-demand SaaS analytics services to provide them with actionable intelligence.

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(a) Compliance Officer: Dream Career? - www.WallStreetJournal.com, 01/15/2014

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